Day Ahead

Wednesday, August 28, 2013, Marketing Communication Opening Call The FTSE is seen opening down around 30 points today UK Corporate Announcements Johnston press reports an H1 operating loss of £225m on revenues of £159m Polymetal announces H1 revenues fell 6% to $721m with an H1 adjusted EBITDA of $239m down 38% Chemring announces 3 month revenues fell to £142m from £165m as anticipated and maintains its full year targets 888 Holdings states that current trading is in line with the expectations as it reports revenues of $200m from $186m Chime Communications states that trading is in line G4S details a pre-tax profit of £201m from £202m and details it is to sell a further 140m shares, equal to 10% of the company, as balance sheet repair is required to reduce gearing Grafton stays confident that its full year expectation swill be met UK News The Competition Commission states that Ryanair’s stake in Aer Lingus needs to be reduced from 29.8% to 5%, Ryanair has already stated that it will appeal the ruling FTSE 100 Dividends: CRH PLC, CRH, (€0.185),  Glencore Xstrata PLC, GLEN, ($0.054),  John Wood Group PLC, WG/, ($0.078889),  Legal & General Group PLC, LGEN, (2.666667),  Tullow Oil PLC, TLW, (4.444444) FTSE 100 Estimated Dividend Impact: 2.4 points FTSE 250 Dividends: African Barrick Gold PLC, ABG, ($0.011),  Alliance Trust PLC, ATST, (2.65),  AZ Electronic Materials SA, AZEM, ($0.04),  Berkeley Group Holdings PLC, BKG, (65.55),  BlackRock World Mining Trust PLC, BRWM, (7.77),  Capital & Counties Properties PLC, CAPC, (.55),  Devro PLC, DVO, (3),  Henderson Group PLC, HGG, (2.38),  Rotork PLC, ROR, (20.05),  St James's Place PLC, STJ, (7.08),  Stagecoach Group PLC, SGC, (6.66),  Ultra Electronics Holdings PLC, ULE, (14.11),  Vesuvius PLC, VSVS, (5.27) FTSE Small Share: Bloomsbury Publishing PLC, BMY, (5.066667), Carclo PLC, CAR, (1.944444), Greencoat UK Wind PLC/Fund, UKW, (1.666667), Low & Bonar PLC, LWB, (.944444) UK Analyst Changes Pennon Raised To Overweight Vs Neutral At Jpmorgan Synergy Health Rated New Add At Numis, Pt 1,300P UK Insider Buying None Detailed UK Insider Selling None Detailed FTSE 100 Movers Major European Companies Reporting Accor SA, S1, 0.545,  Ackermans & van Haaren NV, S1, 0,  Banca Popolare di Sondrio SCARL, S1, 0,  Bouygues SA, S1, 0,  Bureau Veritas SA, S1, 0,  Eiffage SA, S1, 0.44,  Eurazeo, S1, 0,  G4S PLC, S1, 0.074,  OPAP SA, Q2, 0.085,  Paddy Power PLC, S1, 1.28,  Polymetal International PLC, S1, 0.004,  Seadrill Ltd, Q2, 0.631 European Market Summary Bouygues announces that it is cutting its 2013 sales targets, stating that revenues could drop 1% Ocado and Vestas are to be added to the Stoxx 600 with Salzgitter & Acciona deleted Merkel has stated that Greece should never have been allowed into the euro as she ramps up rhetoric ahead of key elections in Germany Italy sells €8.5bn in bills at 11:00 Global Market Footprint Major US Stock Movers After Hours Accuray gained 11% in late trading as it announced a Q4 adjusted loss in line with the expectations Tivo gained 1% as it states the company will be profitable in 2013 and beyond, and will continue to use spare cash to buy back shares S&P 500 Companies Reporting Brown-Forman Corp, Q1, 0.709, Joy Global Inc Q3, 1.375 US Market News The NY Times states that its website suffered another outage yesterday, citing it was probably caused by a ‘malicious external attack’ with some reports citing the Syrian Electronic Army as a suspect, The Huffington post and Twitter also reportedly have been affected Merrill Lynch is to pay $160m in a racial bias suit settlement, while JP Morgan may be required to pay out $6bn to settle lawsuits it mis-sold securities to government backed mortgage companies Wal-Mart the largest private sector US employer announces it is following the trend in corporate America to expand health insurance coverage to all partners of its staff, including same sex partnerships, ahead of a potential wave of lawsuits alleging discrimination Today's Bloomberg Social Velocity Alerts, (BSV) At&T Inc (T) McDonald's Corp (MCD) Overnight Market News Alibaba continues to pressure the Hong Kong Exchange to amend its listing rules to allow it to maintain a partnership of executives and shareholders to nominate the majority of its board members, it is thought to be worth around $87bn and could raise around $13bn in an IPO China details it is investigating three senior executives of PetroChina over ‘severe breaches of discipline’ Top FX Bloomberg highlights how 30% of the time last year major currency pairs saw sharp intraday moves, just ahead of the time the WM/Reuters rates are set, increasing concerns that the major currency dealers have been manipulating the world’s currency markets Top Commodity Brent gained 2.5% as the talk of Western missile strikes in Syria increases Economic Data Due 09:00 Eurozone July M3, 2.0% exp. 2.3% previous 15:00 US July Pending Home Sales, 0.1% exp. -0.4% previous Economic Events 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